Deloitte Launches Financial Innovation Awards

06 Jun 2019 | 04.21 pm

Deloitte Launches Financial Innovation Awards

Irish Times on board as media partner

06 Jun 2019 | 04.21 pm

Business consultancy Deloitte has announced a new Financial Services Innovation Awards programme, with entries closing on August 16.

Deloitte says that the awards will recognise individuals and companies that are leading the way in innovation — using technology to address challenges and create opportunities, improve user experience, and change the way business is done.

Financial Services Ireland (FSI) and the Banking and Payments Federation Ireland (BPFI) are partnering with Deloitte on the awards, and the Irish Times is on board as media partner.

Deloitte head of financial services David Dalton said: “The financial services industry is changing, and changing rapidly. New entrants, new technologies, and changing customer expectations are driving financial services companies to evolve how their businesses and processes work. As a result, we are seeing some very strong innovations, collaborations and technology applications that are transforming the industry and bringing customer centricity to the forefront of agendas.

“This is establishing Ireland as a hub for innovation internationally. We think those pioneering this innovation in this important industry should be recognised, not only to showcase the strength of the financial services industry in Ireland in the global marketplace, but also to highlight the potential for learning across the industry for the benefit of all. We are delighted to launch these awards with these aims.”

Dalton will be joined on the judging panel by Enterprise Ireland boss Julie Sinnamon, BPFI chief executive Brian Hayes, FSI chair Joe Duffy, Irish Times business editor Ciaran Hancock, and Mai Santamaria, head of financial advisory at the Department of Finance.

The awards will be judged in eight categories, with an overall winner chosen from the category winners. The eight areas are product or service; operations; customer experience; regtech; social or sustainable entrepreneurship; learning; leadership; and most disruptive fintech.

Award applicants must be:

  • An organisation which has developed an innovation within the financial services industry
  • An organisation which is operating on the island of Ireland (including Northern Ireland)
  • An organisation with an annual turnover in excess of €1m/£850,000
  • An organisation which has been in operation for a minimum of three years.

Deloitte says that the criteria it will apply in assessing entries include a definition of innovation as “the creation of a new, viable business offering. Innovation requires identifying the complicated problems that matter, and moving through them to deliver elegant solutions”. 

The other criteria will be novelty of idea, proof of cost-benefit of innovation, and clear outline of benefits to the end-user and/or contribution to the financial services industry.

Photo (l-r): Joe Duffy, David Dalton, Julie Sinnamon, Mai Santamaria and Brian Hayes. (Pic: Sasko Lazarov / Photocall Ireland)



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